There should be policy reset at the CBN – Economists
Article summary Economists the CBN should consider policy reset to unify the country’s currency exchange rate If the policies are clear and open the dollars will flow in For manufacturers.…
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Article summary Economists the CBN should consider policy reset to unify the country’s currency exchange rate If the policies are clear and open the dollars will flow in For manufacturers.…
Article Summary Nigerian Naira faces pressure from the strong US dollar. US Federal Reserve hints at another interest rate hike in June. Debt ceiling suspension boosts the US dollar. The…
Article Summary The Central Bank of Nigeria has denied reports claiming that it has devalued the naira to N631/$1 The apex bank said the exchange rate at the Investors’ &…
The Naira rose against the dollar in the peer-to-peer trading market after reports that CBN official exchange had fallen from 461.6 Naira to 631 Naira against the dollar it was…
Article Summary Economic experts have emphasized that the unification of Nigeria’s exchange rate will require a strategic and gradual approach, considering the challenges and potential market distortions. The economists, however,…
Article Summary Naira strengthens: The Nigerian Naira gained one Naira against the US dollar, settling at 758 Naira/dollar compared to the previous week’s rate of 778 Naira/dollar. Declining stablecoin market:…
Article summary President Tinubu said he will review the naira redesign policy of the CBN. This may see the old naira notes remaining legal tender for a longer time than…
Article Summary The Naira recorded a significant depreciation across several markets, with the Nigerian Autonomous Foreign Exchange (NAFEX) closing at N464.51/$1, and the black market rate dropping to N780/$1. A…
Key highlights The Nigerian naira has reached a new low of N765/$1 at the parallel market, representing a 1.33% depreciation from the beginning of the week. Demand for dollars continues…
Article Summary President-elect Tinubu plans to reform Nigeria’s naira system, focusing on fiscal, monetary, and trade issues. The official exchange rate is expected to gradually decline, potentially increasing the value…